SESC Latest Topics No.80＜March 2022＞

Last Updated : March 31, 2022

What’s New on the SESC Website

This page contains the latest in events, developments, and updates to the SESC website.

Press Releases

(Following press release is available in Japanese)

 

Market Misconduct

February 25, 2022:

Recommendation for an administrative monetary penalty payment order against a recipient of information from an employee of RECOMM CO.,LTD. (hereinafter, “the Company”) who committed insider trading related to shares of the Company.open new window

<Summary>

The SESC recommended that the Prime Minister and the Commissioner of the FSA issue an administrative monetary penalty payment order of 11,400,000 yen against a recipient of information from an employee of RECOMM CO.,LTD. (hereinafter, “the Company”).
 
Based on an inspection, the SESC determined that the recipient of information had committed insider trading by purchasing shares of the Company, using insider information, in violation of the Financial Instruments and Exchange Act.

False Disclosure Statement

February 22, 2022:

Recommendation for an administrative monetary penalty payment order and order to submit amended reports against GRACE TECHNOLOGY, INC. for making false statements in its disclosure documents.open new window

<Summary>

The Securities and Exchange Surveillance Commission (SESC) made a recommendation that the Prime Minister and the Commissioner of the Financial Services Agency impose an administrative monetary penalty order of 24,000,000 yen and order to submit amended reports against GRACE TECHNOLOGY, INC. (hereinafter, “the Company”). As a result of the inspection from a disclosure-regulation perspective, the SESC found that the Company submitted Annual Securities Reports and Quarterly Reports that contained improperly booked fictitious sales and earned sales ahead of schedule due to improper accounting processes and that it made false statements in the continuing disclosure documents containing such information. 

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